The "highway" has opened for the private economy.

In Hoa Binh province, the private economic sector makes an important contribution to economic restructuring, job creation and poverty reduction. (Photo: Workers have stable incomes when working at Phu Thanh II Industrial Park, Lac Thuy District).

With the promulgation of Resolution 68, for the first time in the history of Vietnam's economic development, the role of the private economic sector has been affirmed at a strategic level: the private economic sector is the most important driving force of the national economy. Together with the state economy and the collective economy, the private economic sector plays a pivotal role in building an independent, self-reliant and deeply integrated economy.

Thus, from a position that was once overlooked, the private sector has now become a key pillar in the country's development architecture. This represents a profound change in the Party's leadership perspective. Recognizing the growth in both scale and quality of the private sector after nearly 40 years of renovation, our Party affirms: Not only contributing to economic growth, the private sector is also the main force in promoting innovation, improving labor productivity, improving living standards, eliminating hunger, reducing poverty and stabilizing society. Therefore, in the "era of rising up" of the Vietnamese nation, the private sector is given a new historical mission: to become the key pillar in the country's development structure.

Along with the historic empowerment, Resolution 68 has opened up a promising "avenue" for development for the private economic sector to make a spectacular breakthrough. The timely and appropriate birth of Resolution 68 opens up the expectation of completely removing the "bottlenecks of bottlenecks" that have hindered the development of the private economic sector for many years. In particular, policy researchers, economic experts and the business community all agree that this is a breakthrough decision, helping to strongly arouse the desire to contribute of the business community - with the historical mission of being soldiers on the economic front, entrusted with the task by the Party and State.

Immediately after its promulgation, Resolution 68 created a positive spread, opening up expectations to unlock social resources, firmly consolidating confidence in the Party's wise leadership. Following Resolution 68, the 15th National Assembly issued Resolution 198 on private economic development, officially taking effect from May 17, 2025, less than two weeks after the promulgation of Resolution 68. Resolution 198 has 7 chapters and 17 articles, becoming the central legal framework guiding long-term private economic development policies. On May 30, 2025, Prime Minister Pham Minh Chinh signed a decision to establish a National Steering Committee to implement Resolution 68, continuing to be an important step showing the spirit of drastic and effective implementation of the political system to put the Resolution into practice soon.

From oriented thinking to specific actions, in the past month, the drastic participation of the political system has shown the spirit of urgent and serious work, demonstrating the strong commitment of the Party and State: Creating a favorable development environment, removing "bottlenecks of bottlenecks" for the private economy to break through and become the most important and strongest driving force to bring the country to prosperity.

In Hoa Binh province, the political system from the province to the grassroots, especially the business community, welcomed Resolution 68 with the belief that "the avenue" has opened for private enterprises. After 1 month of receiving positive signals from Resolution 68, Hoa Binh as well as localities across the country believe that "it is time for the private sector to rise" - not just as a slogan, but as a command from reality, a historical opportunity that cannot be missed.

However, from resolution to reality is a very long journey, requiring a lot of internal strength and courage. Putting Resolution 68 into the specific economic context of the province, the business community and enterprises in the province believe that: On the new "avenue" of development, the private economic sector is having a favorable starting point with the important "support" of appropriate institutions and policies. To accumulate more internal strength and accelerate on the road ahead, in addition to the courage and determination to innovate of the business community and private enterprises, it is necessary to have the responsible companionship of the entire political system, especially the aspirational participation of the people - a huge economic resource that needs to be unleashed to promote all potentials in society, liberating all productive forces and labor productivity in a socialist-oriented economy.

That is also the leadership will of General Secretary To Lam when emphasizing the importance of successfully implementing Resolution 68: "We will definitely successfully implement the Resolution, soon bring the private economy to a worthy development, truly becoming the most important driving force, the pillar ensuring the strong development of the national economy, realizing the aspiration of building a socialist Vietnam with rich people, strong country, democracy, fairness, and civilization".

Thu Trang

Source: https://baohoabinh.com.vn/12/201770/Dai-lo-da-mo-cho-kinh-te-tu-nhan.htm